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  • Jul 31, 2012, 08:58 AM
    jedik
    Accounting
    What is accounting software? Is it equipment or supplies? Where will I enter?
  • Jul 31, 2012, 03:12 PM
    paraclete
    Accounting software is like any other software it is computer applications which "mechanise" the process of accounting and gathering data. Products such as Quicken and Quickbooks are entry level applications. There are a number of proprietary softwares available that range in cost up to millions of dollars depending on the size of the organisation, or an organisation may have software specifically written for their environment. Capitalisation will depend upon the expected life of the software and the cost and the usual capitalisation policies would apply and the organisations policies on software replacement would also be a consideration. Ie replace with new edition each year, then expense.
  • Aug 3, 2012, 01:51 AM
    jedik
    The transac is the firm installed an accounting software.
    And I don't know if it's supplies or equipment.
    Thanks. So, it is supplies?

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